secwatch.observer — SEC 8-K summary
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Issuer:     Coterra Energy Inc. (CTRA)
CIK:        0000858470
Form:       8-K
Filed at:   2026-02-02T23:59:59+00:00
Accession:  0001104659-26-008979
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.95
Item codes: 1.01, 5.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Coterra Energy to merge with Devon Energy in all-stock deal; Coterra holders get 0.70 DVN shares per CTRA share
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- Coterra stockholders to receive 0.70 shares of Devon common stock per share; combined ownership ~46% Coterra, ~54% Devon.
- Coterra CEO Thomas E. Jorden to become Chair of combined company; Devon CEO to remain CEO. Combined board: 11 members, 5 from Coterra.
- Termination fee of $865M payable by either party in certain circumstances; closing expected by August 1, 2026 (extendable for antitrust).
- Coterra and Devon entered into amended severance agreements for top executives, accelerating equity vesting on change in control.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/858470/000110465926008979/0001104659-26-008979-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/858470/000110465926008979/tm264761d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-008979

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer